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Daily Dispatches

Police probe whether gold seized in Montreal is linked to Toronto heist

Section: Daily Dispatches

By Aaron Derfel
Montreal Gazette
Friday, December 22, 2023

Montreal and Toronto-area police are investigating whether the surprise seizure of hundreds of thousands of dollars worth of gold during a firearms raid in the east end of the city on Tuesday is connected to last April's daring $20 million gold heist at Toronto's Pearson Airport, the Gazette has learned.

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Merryn Somerset Webb: How much damage have central bankers done? A lot

Section: Daily Dispatches

By Merryn Somerset Webb
Bloomberg News
Friday, December 22, 2023

What's Christmas without a fight about money, a lunch-table villain and a really good book? For those who haven't yet finished their present shopping I have some suggestions that will give you all three in one happy package.

First up, someone must have a copy of "You Always Hurt the One You Love: Central Bankers and the Murder of Capitalism" by Bernard Connolly.

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FT promotes silver, but maybe just to divert interest in gold

Section: Daily Dispatches

Five Gold Rings? I'd Rather Have Silver

By Moira O'Neill
Financial Times, London
Friday, December 22, 2023

All I want for Christmas is silver, copper, and uranium rings ... plus, maybe, some recycled gold.

When gold plunged to $1,355 in April 2013 financial advisers lined up to warn me that the metal was "just speculation" and "not a traditional investment" because it didn't pay an income. 

Alasdair Macleod: Free banking -- myth and reality

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, December 21, 2023

Surely it is now apparent that central banks are guilty of mismanaging the economy. By slashing interest rates to zero and in some cases to an unnatural minus figure, then flooding financial systems with currency-equivalent credit conjured out of nothing, followed by rapidly increasing interest rates in an attempt to stem the consequences, central banks have bankrupted themselves and much of their entire economies.

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Sound money movement struck gold in many states in 2023

Section: Daily Dispatches

From Money Metals News Service, Eagle, Idaho
Thursday, December 21, 2023

Against the backdrop of high inflation and geopolitical uncertainty, states are increasingly enacting measures that encourage saving in precious metals and even using gold and silver as money.

With five bills signed into law in 2023, sound money reforms are gaining momentum across the United States.

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Gold retailer Kitco's website disrupted in cybersecurity incident

Section: Daily Dispatches

By Joe Deaux
Bloomberg News
via BNN Bloomberg, Toronto
Tuesday, December 19, 2023

https://www.bnnbloomberg.ca/gold-retailer-kitco-s-website-disrupted-in-cybersecurity-incident-1.2013834

The website for Kitco Metals Inc., a North American precious metals retailer that also refines gold, continued to be disrupted Wednesday after a cyber incident temporarily disabled the site and online store.

The hedge fund traders dominating a massive bet on bonds

Section: Daily Dispatches

By Nishant Kumar, Donal Griffin, and William Shaw
Bloomberg News
via BNN Bloomberg, Toronto
Tuesday, December 19, 2023

Jonathan Hoffman, John Bonello, and Jonathan Tipermas share more than just similar first names. They're the driving force behind a gigantic wager on government debt that's been giving regulators sleepless nights.

GATA's consultant on BIS, Robert Lambourne, explains gold swaps

Section: Daily Dispatches

7:35p ET Wednesday, December 20, 2023

Dear Friend of GATA and Gold:

Chris Marcus of Arcadia Economics this week interviewed GATA's consultant on the Bank for International Settlements about the bank's heavy and largely surreptitious intervention in the gold market via gold swaps on behalf of the bank's central bank members.

Lambourne reports regularly via GATA on the BIS' swaps, which are obliquely reported in the bank's monthly reports. His most recent report is here:

https://www.gata.org/node/22939

GoldSeek Radio's Waltzek and GATA's Murphy review gold's volatility

Section: Daily Dispatches

7:20p ET Wednesday, December 20, 2023

Dear Friend of GATA and Gold:

GoldSeek Radio's Chris Waltzek interviews GATA Chairman Bill Murphy about the increasing volatility -- and seemingly upside pressure -- in gold. The interview is not quite 12 minutes long and can be heard at GoldSeek here:

https://goldseek.com/article/goldseek-radio-nugget-bill-murphy-gold-market-volatility

LME plans new metals contracts using Shanghai prices, sources tell Reuters

Section: Daily Dispatches

By Pratima Desai and Siyi Liu
Reuters
Monday, December 18, 2023

The London Metal Exchange is planning to launch new metals contracts using prices from the Shanghai Futures Exchange, three industry sources familiar with the matter said, increasing China's influence on global metals markets.

Collaboration between the 146-year-old LME and ShFE was mentioned briefly by LME's Chief Executive Matthew Chamberlain in October at the annual LME Week dinner, without any detail.

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